KOSPI Slightly Declines to '2380 Level'... Kakao Games Hits 'Ttassang'

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 11th, the KOSPI showed a slight decline, recording the 2380 level. This appears to reflect the impact of a widened drop centered on major tech stocks such as Apple and Nikola in the New York stock market overnight.

According to the Korea Exchange, as of 9:47 a.m. on that day, the KOSPI recorded 2388.16, down 8.32 points (0.35%) from the previous trading day. The index opened at 2389.76, down 6.72 points (0.28%) from the previous session, showing a weak trend.

Overnight, the New York stock market fell as major tech companies' stock prices continued to show unstable trends. The Dow Jones Industrial Average fell 1.45%, and the tech-focused Nasdaq index dropped 1.99%.

Seo Sangyoung, a researcher at Kiwoom Securities, said, "It is necessary to note that due to the recent increased volatility of major U.S. tech stocks, investors may now pay more attention to corporate value," adding, "This potential change in investor sentiment will make the domestic stock market focus more on current corporate value rather than future value."

In the KOSPI market, individuals net bought 169.8 billion KRW. On the other hand, foreigners and institutions net sold 31.6 billion KRW and 149.2 billion KRW, respectively.

Among the top market capitalization stocks, SK Hynix (0.91%) and Hyundai Motor (0.30%) rose. Samsung Biologics (-1.05%) and NAVER (-1.95%) fell by around 1%. Samsung Electronics remained flat.

At the same time, the KOSDAQ index stood at 883.51, down 0.79 points (0.09%) from the previous trading day. The index opened at 881.23, down 3.07 points (0.35%) from the previous session, narrowed the decline, and is fluctuating around the flat zone.

Individuals led the index with net purchases of 341 billion KRW. Foreigners and institutions net sold 140.2 billion KRW and 123.8 billion KRW, respectively.

Among the top market cap stocks, Kakao Games, on its second day of listing, rose to the upper price limit (29.97%). Celltrion Healthcare (-2.06%) and Genexine (-1.80%) declined.

This content was produced with the assistance of AI translation services.